. As Temile Development Company Secures VLGC Contract
The Nigerian gas sector has received a significant investment boost with Temile Development Company Ltd (TDC) securing a contract with Hyundai Heavy Industries (HHI) for the construction of an 88,000 cubic meter Very Large Gas Carrier (VLGC).
The contract, signed in London, UK on Wednesday alongside a deal for the construction supervision contract with the NLNG Shipping & Marine Limited (NSML), is valued at over $250 million and brings TDC’s total investments in the gas sector to over $450 million, within the last four years.
Minister of State Petroleum Resources (Gas), Rt. Hon. Ekperikpe Ekpo, in a speech at the event described the deal as a significant milestone in the collective journey towards realizing Nigeria’s “Decade of Gas” vision, even as he commended TDC for its substantial investment in the gas sector, stating that it reinforces local participation in the sector critical to Nigeria’s national economic diversification agenda.
Ekpo also reaffirmed the Federal Government’s commitment to providing necessary incentives and enablers to catalyze the economy.
“This project will bring Temile’s total investment to date in the gas value chain to over $450 million in the last four years, this is a significant and strategic financial commitment, reinforcing local participation in a sector critical to our national economic diversification agenda,” he said.
“Today, we celebrate not just an investment in infrastructure, but a bold expression of belief in Nigeria’s gas potential and in the capability of indigenous companies to lead transformational change in our energy landscape.”
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According to Ekpo, the investment would contribute to Nigeria’s economic development, poverty eradication, and wealth creation, deepening domestic capacity, and positioning Nigeria as a key player in the global energy transition which are core objectives of President Tinubu’s Renewed Hope Agenda.
The Gas Minister also tasked other operators and critical stakeholders in the Nigerian oil and gas sector to recommit themselves to the principles of collaboration, innovation, and local content development.
The CEO of TDC Limited, Mr. Alfred Temile, said the deal reaffirms the company’s role as a strategic stakeholder in Nigeria’s gas value chain development.
“TDC remains highly committed to continuing to drive critical investments in partnership with key sector stakeholders in furtherance of Nigeria’s Decade of Gas initiatives,” he said while thanking the Gas Minister, Ekpo, and all stakeholders who worked assiduously to make the deal a success.
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